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Speaking with Sky News, he said the sector will become increasingly competitive.
'We are in the process of seeing a very significant increase in competition in financial services, if there's one area that venture capitalists are heavily investing in right now its financial technology,' Mr Taylor said.
'And that will create a very competitive environment for banks and financial services in the coming years so my own view is that we're going black friday oakley sunglasses to oakley lenses see margins being squeezed in financial services in the coming years and it will be increasingly difficult for banks to pass these sorts of things on.'
ABA chief executive Anna Bligh has written to the Senate Economics Committee demanding a full inquiry into the banking levy, which the Coalition hopes would raise $6.2 billion over the next four years.
'It is unlikely the committee would be able to hold appropriate public consultations to consider the major bank levy legislation before their reporting date of 13 June 2017,' Ms Bligh wrote to the committee.
'The ABA considers that further consultation is crucial to ensure all stakeholders have a full understanding of the implications of this tax on the economy and financial system.

'We are concerned this motion impacts the Senate's ability to vote on major revenue legislation given mens oakley eyeglasses there has been no independent scrutiny or guidance.'.